In the last few years, Vietnam has promoted its international economic integration throughout participating in many international trade agreements. This process will have direct impact on Vietnamese businesses. The 13th National Assembly passed the International Treaties Law 2016 which emphasises the need to consult businesses during the negotiations of international trade agreements.
According to European Association of Euro-Pharmaceutical Companies, the United States is one of 17 countries capable of developing new pharmaceutical products. The drug manufacturing capacity of 200 remaining countries and territories, including Vietnam, depends on such countries. In the draft provision on intellectual property rights in Trans-Pacific Partnership agreement, the United States wanted to secure the 12-year data exclusivity protection for its biological medicines. This would have a significant impact on the production of generic drugs and curb the use of cheaper generic medicines in Vietnam.
During the TPP negotiation process, many pharmaceutical manufacturers as well as pharmaceutical company association contributed comments to propose negotiations on the data exclusivity period. After 19 formal negotiation rounds, the final results has shown the positive changes in the data exclusivity period.
According to the prime minister’s decision on international negotiations in 2011, the TPP is the first international trade agreement Vietnam’s negotiation teams have consulted businesses for their ideas and comments.
The Vietnam Chamber of Commerce and Industry is considered as a focal point consulting with the business community’s viewpoints about the difficulties and challenges of TPP agreement. The chamber has established a five-step consultancy process, on researching draft, analysing the impact, proposing negotiating positions, consulting businesses and proposing plans for negotiators.
Evaluating the important role of business consultation in the negotiation process, the 13th National Assembly passed the International Treaties Law. Article 12 added that any state body or agency proposing the signing of an international treaty have to consult with the business community during the negotiation process.
The International Treaties Law came into effect on Jan 1, 2016. The law included institutionalizsng new provisions of the constitution, regulation on the order and procedure of international treaties; and regulations on the implementation of international agreements. The enactment of the law should help boost international economic integration and ensure the interests of the country.
